Kenya is cashing in its crown jewel. In the biggest privatisation move in nearly 20 years, the government has agreed to sell a 15% stake in Safaricom – East Africa’s most valuable company – to Vodacom/Vodafone for roughly $1.6 billion , cutting the state’s holding from 35% to 20% and handing majority control to the South African group. The deal is priced at KES 34 per share , a hefty premium to recent market levels, and includes an upfront payment of about KES 40.2 billion
